10-Q: Quarterly report pursuant to Section 13 or 15(d)

 

 

---

 

 

 

A. Lessee and Lessor have executed and delivered to each other a Second Consolidated Amended and Restated Master Lease dated as of April 18, 2008, (the “Existing Master Lease”) pursuant to which Lessee leases from Lessor certain healthcare facilities located in Ohio and Pennsylvania.

B. Lessor and Lessee desire to amend the Existing Master Lease to reallocate certain capital improvement funds among certain of the Facilities.

1. Definitions.

2. Schedule 9.3.  Schedule 9.3 to the Existing Master Lease is hereby amended and restated in its entirety by Schedule 9.3 to this Amendment.

3. Section 38.4.  Section 38.4 of the Existing Master Lease is amended and restated in its entirety as follows:

 

Facility		Allocated Purchase Price				Minimum Purchase Price
Northwestern Center		$	5,378,350.46			$	6,393,168.57
Columbus Center		$	5,375,043.01			$	6,389,237.05
Golden Years Healthcare Center		$	3,219,706.84			$	3,827,219.65
Oak Grove Center		$	2,334,560.33			$	2,775,058.61
Total		$	16,307,660.65			$	19,384,683.89

4. Section 31.1.  Section 31.1 of the Existing Master Lease is hereby amended and restated in its entirety as follows:

 

 

 

 

(which shall not

125 Ottawa Ave., N.W., Suite 420

constitute notice):

Grand Rapids, Michigan 49503

Attn: Mark E. Derwent

 

 

5. Execution and Counterparts.  This Amendment may be executed in any number of counterparts, each of which, when so executed and delivered, shall be deemed to be an original, but when taken together shall constitute one and the same Amendment.

6. Headings.  Section headings used in this Amendment are for reference only and shall not affect the construction of the Amendment.

7. Enforceability of Transaction Documents.  Except as expressly and specifically set forth herein, the Transaction Documents remain unmodified and in full force and effect.  In the event of any discrepancy between any other Transaction Document and this Amendment, the terms and conditions of this Amendment will control and such other Transaction Document is deemed amended to conform hereto.

 

 

 

By:

OHI Asset (PA), LLC, a Delaware limited liability company, its sole trustee

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BEL PRE MGMT. CO., LLC

 

STATE OF OHIO	)
	) SS
COUNTY OF _______________	)

 

_________________, Notary Public ____________________ County, ____________ My Commission Expires:

 

Facility	Address	City	ST		Allocation of $3.0M CAP-EX (1)
Chardon Healthcare Center	620 Water Street	Chardon	OH			75,000.00
Commons at Greenbriar (ALF)	8060 South Avenue	Boardman	OH			25,000.00
Greenbriar Center (a/k/a Greenbriar North)	8064 South Avenue	Boardman	OH			105,000.00
Greenbriar Rehabilitation Hospital	8064 South Avenue, Ste. One	Boardman	OH			25,000.00
Kent Care Center	1290 Fairchild Avenue	Kent	OH			100,000.00
Northwestern Center	570 North Rocky River Drive	Berea	OH			125,000.00
Columbus Center	4301 Clime Road, North	Columbus	OH			125,000.00
Golden Years Healthcare Center	(P.O. Box 1148) 2125 Royce Street	Portsmouth	OH			45,000.00
Oak Grove Center	620 East Water Street	Deshler	OH			-
		Total			$	625,000